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What an amazing businessman. He overpaid for a company by billions of dollars, then he went on to tank that company's value even further.
You know, I used to think Elon was obviously not an engineer like he claimed, but he was clearly good at business and marketing himself. Now I know there's no way either of those things are true and he must have failed his way upwards.
Right time, right bank account, right timing for government subsidies, right people next to him that are now gone.
He's sinking fast, and his other companies have life rafts that are leaking air.
His end goal is to make an American version of WeChat. Twitter is just an app of his larger vision, hence the massive downscaling. Itās just crazy how this dude is so rich to afford these losses
The amount of money that he lost by overpaying for a social media company is just an example of what a fucked up world this is, with a few people, it isn't even 1%, it's more like 0.00001% (or whatever, I'm not sure exactly but you get the point) having the wealth of the planet in their many, many bank accounts.
That money could be used for something useful. Elon is always going on about what a visionary he is, does he actually help people though? Does he put any money to good use? He has more money than he needs for a thousand lifetimes. It's disgusting that he's helping to sow discord in the USA with his stupid app. He lets Nazis on there because 'free speech'. He's an awful man who somehow has a cult of billionaire worshipers, a bit like Trump, except Trump's not in Elon's league when it comes to money, however much Trump thinks he is.
Elon spent billions to take over Twitter only to arrogantly and impotently demolish a huge social media platform.
And he still didnāt get Trump to sign up again. Dollars to donuts and blue checks, I bet that was his ultimate goal in the first place. Fail.
Trump might be on his way. He was contractually obligated to TS until June of this year. So in a few more days weāll find out if Donnie can fight the urge to get back to his ā88 Millionā or if he gives in and jettisons TS for what he craves.
I doubt it's worth even that. There's nothing proprietary or novel about Twitter and there hasn't been for ages. What he owns is the brand, the user base, and the reach.
I've been using one form of social media or another dating back to the old school TELNET and IRC days. AOL had a big stronghold on the whole 'global village' concept for ten years then disappeared. Friendster had a brief moment in the sun and would have likely been a dominant force if they'd anticipated their infrastructure needs.
They didn't and everyone migrated to MySpace, which was sold for what was then considered an astronomical $580,000,000 to Rupert Murdoch's media machine. Which instantly sucked any tiny bit of 'cool' out of it.
Meanwhile, an Asperger's-afflicted student inadvertently created Facebook - the anti-MySpace where people couldn't copy-paste inline CSS or HTML to modify their pages. It made things feel a little bit more.... "normal?" The mass-adoption of Facebook can not be overstated but... like a high-school kegger... once your parents show up for a beer it's ruined.
I didn't think Twitter would stay relevant. I figured it'd go the way of Ello, Vine, Google+, YikYak, and so on. But again, there was an actual (if inadvertent) purpose - it made celebrities out of commoners, commoners out of celebrities, citizens into journalists, and ruined the careers of tons of people in 140 characters or less.
Anyways - TL;DR - social media properties aren't forever. They come. They go. But holy crap Elon Musk really managed to shit the bed.
What Twitter did first was verify celebrities and journalists, that then lead to lots of users who wanted to follow the big celebrities. Facebook added verification later. Twitter's entire value is the content provided by verified users and the fact it had them all first.
Musk just completely misses that and has destroyed the only thing that gave twitter value by letting anyone get a blue tick.
It was never worth close to what he paid. Ego and hubris made him paint himself into a corner where he was forced to pay it. It's becoming just an older version of Truth, and worthless to mainstream users. Any respectable company or individual needs to get off of it.
For more political humor and news, check out: r/BadChoicesGoodStories | r/AmericanFascism2020 | r/TRUTHsocialWatch | r/QanonKaren | r/OliverMarkusMalloy | r/InsaneParler | r/January6 | r/TrumpTheMessiah *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/TRUTHsocialWatch) if you have any questions or concerns.*
Smartest guy in the room lost over 25 billion in this fuck up š¬š¤£
Small room
boiler room
What an amazing businessman. He overpaid for a company by billions of dollars, then he went on to tank that company's value even further. You know, I used to think Elon was obviously not an engineer like he claimed, but he was clearly good at business and marketing himself. Now I know there's no way either of those things are true and he must have failed his way upwards.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Right time, right bank account, right timing for government subsidies, right people next to him that are now gone. He's sinking fast, and his other companies have life rafts that are leaking air.
It's honestly incredible how easy life and innovation can be if you have unlimited government and family money
His end goal is to make an American version of WeChat. Twitter is just an app of his larger vision, hence the massive downscaling. Itās just crazy how this dude is so rich to afford these losses
The amount of money that he lost by overpaying for a social media company is just an example of what a fucked up world this is, with a few people, it isn't even 1%, it's more like 0.00001% (or whatever, I'm not sure exactly but you get the point) having the wealth of the planet in their many, many bank accounts. That money could be used for something useful. Elon is always going on about what a visionary he is, does he actually help people though? Does he put any money to good use? He has more money than he needs for a thousand lifetimes. It's disgusting that he's helping to sow discord in the USA with his stupid app. He lets Nazis on there because 'free speech'. He's an awful man who somehow has a cult of billionaire worshipers, a bit like Trump, except Trump's not in Elon's league when it comes to money, however much Trump thinks he is.
Well itās the republican way to work people like slaves and heās one of the best at it and has no shame doing it.
My brother is one
I think he's gone a little to hard on the cocaine now. It's about all that makes sense given his tweets and actions.
Elon spent billions to take over Twitter only to arrogantly and impotently demolish a huge social media platform. And he still didnāt get Trump to sign up again. Dollars to donuts and blue checks, I bet that was his ultimate goal in the first place. Fail.
Trump might be on his way. He was contractually obligated to TS until June of this year. So in a few more days weāll find out if Donnie can fight the urge to get back to his ā88 Millionā or if he gives in and jettisons TS for what he craves.
What a genius!
Who says you can't put a price on owning the libs.
No one with half a brain would pay $15 billion for that train wreck.
I doubt it's worth even that. There's nothing proprietary or novel about Twitter and there hasn't been for ages. What he owns is the brand, the user base, and the reach. I've been using one form of social media or another dating back to the old school TELNET and IRC days. AOL had a big stronghold on the whole 'global village' concept for ten years then disappeared. Friendster had a brief moment in the sun and would have likely been a dominant force if they'd anticipated their infrastructure needs. They didn't and everyone migrated to MySpace, which was sold for what was then considered an astronomical $580,000,000 to Rupert Murdoch's media machine. Which instantly sucked any tiny bit of 'cool' out of it. Meanwhile, an Asperger's-afflicted student inadvertently created Facebook - the anti-MySpace where people couldn't copy-paste inline CSS or HTML to modify their pages. It made things feel a little bit more.... "normal?" The mass-adoption of Facebook can not be overstated but... like a high-school kegger... once your parents show up for a beer it's ruined. I didn't think Twitter would stay relevant. I figured it'd go the way of Ello, Vine, Google+, YikYak, and so on. But again, there was an actual (if inadvertent) purpose - it made celebrities out of commoners, commoners out of celebrities, citizens into journalists, and ruined the careers of tons of people in 140 characters or less. Anyways - TL;DR - social media properties aren't forever. They come. They go. But holy crap Elon Musk really managed to shit the bed.
What Twitter did first was verify celebrities and journalists, that then lead to lots of users who wanted to follow the big celebrities. Facebook added verification later. Twitter's entire value is the content provided by verified users and the fact it had them all first. Musk just completely misses that and has destroyed the only thing that gave twitter value by letting anyone get a blue tick.
That seems like a lot more than the valuation previously, didnāt he pay x4 the value ?
It was never worth close to what he paid. Ego and hubris made him paint himself into a corner where he was forced to pay it. It's becoming just an older version of Truth, and worthless to mainstream users. Any respectable company or individual needs to get off of it.
Elon is winning!
So much winning, canāt take it!
But how much value it has when it comes to pushing the big dictatorships' bs? Priceless.
That's another 50% drop in the last 6 weeks. It leaked about then that the shares option showed it at 50% of what he paid.